The timetable for Imperial Tobacco’s €12.6bn acquisition of Altadis has slipped and the deal is not now expected to be completed until January next year. Gareth Davis, chief executive of Imperial, said new takeover rules in Spain had delayed the process of approval by regulators. Mr Davis said that the delay was frustrating but it would have no financial impact on the group as it had put the financing in place in July when it launched its bid for Altadis, which was before the recent debt market turmoil.

This entry was posted by Helen Thomas on Wednesday, October 31st, 2007 at 5:10 and is filed under Capital markets, M&A. Tagged with altadis, Imperial. Edit this entry.